Power Minerals (ASX:PNN) has completed the first two holes of maiden diamond drilling at its Morro do Ferro Rare Earths Project in Brazil, with a third hole now beyond 200m depth.
The first two holes reached 210.9m and 173.3m, respectively, and were drilled at the same orientation as historical holes but extended to greater depths. The third hole, MFSR-53, is being drilled vertically to support geological and resource modelling, the company notes.
Power has recovered 487.8m of core at an average recovery rate of 94.5%. Samples from the completed holes have been sent to SGS Geosol for geochemical analysis, with results expected within three to four weeks.
The approximately 4,000m HQ triple-tube drilling program is designed to test the depth and extent of existing mineralisation. A further 800m of larger-diameter PQ drilling will collect samples for metallurgical testwork.
CEO Alistair Stephens says a second drill rig is scheduled to arrive shortly to accelerate the program.
“With a second rig on its way, we are strategically positioned to continue drilling through December if needed, paving the way for a JORC-compliant mineral resource,” Stephens says.
Power is targeting a maiden JORC Code 2012 mineral resource estimate for Morro do Ferro later this year.
The company says it has also completed a drone survey across the Manifestos de Mina licence area, collecting digital elevation, aerial photography, magnetic and radiometric data. Power says the results will help constrain the resource model, refine the interpreted deposit geometry and identify potential satellite targets.
Morro do Ferro lies within the Poços de Caldas Alkaline Complex in Minas Gerais. Power holds the land and mining rights through a Manifesto de Mina licence, although ground-disturbing activities remain subject to environmental approvals.
Separately, Power Minerals plans to complete soil sampling at its Santa Anna Niobium Project in Goiás during the current quarter, targeting areas surrounding the previously explored centre of the complex.
Write to France Pinzon at Mining.com.au
Images: Power Minerals
